Difference between a home inspection and appraisal
In the proceeding weeks after you get a home under contract one of the next vital steps is to have an appraiser come out to the home and perform an appraisal. Basically, an appraisal is a specialized evaluation of the value property you are purchasing. Typically, the lender will order and schedule it for you so it’s one less thing you have to worry about. Also, they will require it to make sure that the house you are buying is worth the offer price. It’s important to distinguish the difference between home inspections and appraisals so now we will discuss home inspections.
Getting the home inspected is a great way to help determine the condition, safety, and any shortcomings of the property. The inspector will take a detailed look at the roof, plumbing, electrical, HVAC systems, and several other areas to determine if there are any deficiencies with the home. If there are any issues that arise you will have a chance to deliberate and negotiate with the seller to remedy any defects that you would like fixed. Trust your agent and take their advice to help you negotiate this process.
One thing to remember is an appraisal determines the value of the home and the inspection determines the condition of the home.
Thanks for reading!
Gregory Rutledge- REALTOR®
Century 21 Platinum Properties
1051 Hwy 76. Clarksville, TN 37043
C: 352.233.8419 O: 931.771.9072
*Each Century 21 office is independently owned & operated